EIG completes Harbour Energy plc shares distribution

KUALA LUMPUR, July 8 (Bernama) -- EIG, a leading institutional investor to the global energy and infrastructure sectors, announced that it has distributed shares of Harbour Energy plc (HBR.L or the Company) held by Harbour North Sea Holdings Ltd (Harbour North Sea) to EIG fund investors via a series of distributions.

EIG’s Chief Executive Officer, R. Blair Thomas in a statement said EIG has distributed shares in Harbour Energy to its fund investors.

“As EIG is still the largest shareholder following the distribution, we remain committed to the sector, confident in the Company’s current strategy and supportive of its management team.”

Following the merger of Premier Oil plc and Chrysaor Holdings Ltd, Harbour North Sea received 36.46 per cent of the Company.

EIG manages holdings in the Company through an investment fund via several holding companies (the EIG Holding Structure). The distribution of shares though the EIG Holding Structure will result in numerous regulatory filings.

EIG would like to make clear that no shares of the Company were sold as part of this distribution. Following this distribution, EIG will remain the largest shareholder of the Company, holding approximately 16 per cent of its outstanding shares through managed vehicles and proprietary ownership.

In addition, Thomas and Steven Farris will remain as Chairman and Director, respectively, of the Company.

The distribution is a taxable event for certain EIG affiliated shareholders, so some of these shareholders may sell shares to cover such tax obligations as and when necessary.

More details at www.eigpartners.com.

-- BERNAMA